Budget Deficit

Apparently my Dear Government post did not make it to Washington. The cuts thus far are a move in the right direction, but not substantial enough. Here's a chart from the Economist.

We'll be running a budget deficit for at least the next five years. Although the deficit is projected to shrink as a percentage of GDP, debt as a percentage of GDP is expected to grow. Hopefully reality plays out differently than is expected at this point. If serious changes are not made by policymakers, I am predicting a US government default sometime roughly in the next three to six years.